Are Toys ‘R’ Us Stores Coming Back? As Many as 24 Stores Set to Open in New Strategy
Key takeaways
- Toys ‘R’ Us is opening 24 new locations in airports, cruise liners and physical stores
- Owner WHP Global has struck deals with Duty Free Americas and Go! Retail Groups
- The toy brand still brings in $2 billion a year, supported by a partnership with Macy’s
Kids, parents and collectors, rejoice: Toys ‘R’ Us is making a comeback — again. The beloved toy brand plans to open new stores after it shuttered the brand in 2018, with several owners having tried to revive it ever since.
A new strategy is envisioned by parent company WHP Global, who have already done a promising job of bringing Toys ‘R’ Us back from the dead. But will their strategy take off, or is Toys ‘R’ Us set to languish? Let’s get into the details.
What’s happening with Toys ‘R’ Us?
Toys ‘R’ Us is coming to a cruise ship, airport or physical location near you. Parent company WHP Global has announced that 24 flagship stores will open as part of a strategy dubbed the ‘air, land and sea’ expansion.
The first airport hosting a Toys ‘R’ Us location will be Dallas Fort Worth International Airport through a partnership with Duty Free Americas. As for the flagship stores, a partnership with Go! Retail Groups will start opening new stores in the 2024 holiday season. There are no details yet on the ‘sea’ part of the strategy.
Toys ‘R’ Us is still looking to escape its chequered past after collapsing into bankruptcy in 2018 and closing all its stores. Since then, it’s struggled to return to its feet under various new owners. WHP Global took over the brand in 2021 from Tru Kids.
In 2021, Macy’s threw the brand a lifeline when the two companies agreed that Toys ‘R’ Us could sell toys on Macy’s website and in over 400 of its department stores. There’s also another flagship store, a 20,000-square-foot location in New Jersey that opened last year.
“The Toys R Us brand is growing fast, and our expansion into air, land, and sea is a testament to the brand’s strength,” said Yehuda Shmidman, CEO of WHP, in a statement.
Could the comeback stick this time?
There’s more hope this time around that the relaunch will take. The last owners of Toys ‘R’ Us, Tru Kids, opened two locations for the brand but shuttered them due to the pandemic. Now that’s behind us, Toys ‘R’ Us stands a better chance of making it.
WHP is the company that negotiated the Macy’s deal. The company said Toys ‘R’ Us’ global footprint had expanded by over 50% since the acquisition, with over 1,400 stores and e-commerce sites in 31 countries.
WHP also plans to bring immersive experiences to its physical locations, similar to the flagship New Jersey store with a slide, café and ice cream parlor. The brand already generates $2 billion globally, according to WHP, so the expansion and investment potential is ripe.
The bottom line
Toys ‘R’ Us is like a cat with nine lives. The brand should have died off long ago with its financial troubles, but the enduring appeal of the brand recognition has saved it more than once. In all fairness, its owner, WHP, seems to have a good plan in place, so it just needs to make good on its promises.
